I would venture to forecast that if the upcoming payroll report were to post a decline in the vicinity of 200,000 or so, the Fed might lower interest rates as early as this Friday.

The question is -- and this is why the market hasn't reacted too negatively to the durable goods report -- is whether businesses ... will continue to spend given the risks to consumer spending posed by high energy prices.

As with all individuals about whom statements may be made in the upcoming report, the secretary-general has been given the opportunity to respond by the Independent Inquiry Committee. As he has done previously, the secretary-general has exercised that right.

If the Fed is to achieve its objective of slowing the economy, they must consider the risk that their inaction on rates could spur growth before the economy has had a chance to truly slow,

The Fed certainly recognizes the importance that the markets are placing on the housing market and could well use it as a means of sending strong signals.

If oil prices fall, it will help to stimulate economic activity -- the profit outlook will be better and also lower oil would bring down costs, making stocks the better asset class.